Woolworths’ Cartology to acquire Shopper Media for $150m

Woolworths Group’s retail media business, Cartology has agreed a deal to purchase 100% of Shopper Media for approximately $150 million in cash considerations, according to an ASX announcement.

The digital out of home media provider, which rebranded from Shopper Media Group to simply ‘Shopper’ in 2021 is a market leader in targeting advertising and currently has over 2,000 screens across 400 shopping centres in Australia.

Shopper rebranded in 2021

CEO of Woolworths Group, Brad Banducci said: “Retail media is developing rapidly and is an important part of the evolution of Woolworths Group. We’re excited about the opportunity to bring together the complementary capabilities of our retail media business, Cartology, with Shopper’s expertise in out of home media.”

Managing director of Cartology, Mike Tyquin added: “Shopper’s screen network offers advertisers outstanding retail context and proximity. Shopper has invested heavily in technology, helping the business pave the way for innovation in retail out of home media.”

“The acquisition of the business is an important next step in further unlocking the growth potential of Cartology and accelerating our goal to become the trusted media partner of choice for brands and retailers. It will allow us to provide our clients more opportunities to reach their customers via seamless and targeted advertising solutions.”

Retail media is essentially defined as the advertising of products that must be available for purchase at the same location or on the same platform they are being advertised on.

Cartology’s Tyquin with one of the business’ in-store screens

Woolworths said the deal will be subject to ACCC approval and the satisfaction of customary closing conditions. It is expected to be completed by the end of 2022.

Cartology was launched by Woolworths in 2019 with Tyquin at the helm, recently celebrating its third year in operation. The company now employs over 200 people across Australia and New Zealand, with its digital advertising network housing 1500 screens.

Cartology has been on a growth trajectory since its launch, last month extending its services to become the exclusive retail media partner for BIG W, connecting brands with customers both in-store and through digital services. The company also hired Network 10’s Sophie Hicks Lloyd to head up the offering.

Shopper has been in operation since 2015, with its rebrand last year representing its shift in focus to data, digital products and technology, and the new ‘Closer to Customers’ positioning also came with with a fresh look, feel and logo.

Earlier this year, former COO and founding partner Ed Couche moved into the CEO role at Shopper, after the passing of his close friend and co-founder Ben Walker in January this year. 

Couche has a long history in the OOH industry, having spent 14 years between Ooh Media and the UK branch of JC Decaux prior to Shopper

Shopper also joined the Outdoor Media Association (OMA) in March last year.

Mike Tyquin spoke to Mumbrella earlier this year, alongside other retail media figureheads, to preview the rapidly growing space in the Australian market. This month marked the third anniversary of Cartology’s launch, with rivals Coles setting up shop earlier this year.

Woolworths Group (ASX:WOW) share price currently sits at $37.51 with a market capitalisation of $45.53 billion.

More information to come…


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